People who have savings should root for high interest rates. Those who live on cheap credit (companies and inviduals) will be affected. Most companies are credit financed so that will mean a lot of unemployment.

Unemployement and high rates will tank the real estate market allowing you to buy more.

If you are independently wealthy, own your own solid business or have a very secure job then you’ll do well. You can buy some properties and refinance your low cost basis when interest rate eventually cycle down.

High interest rates means high inflation so you will need to cut down your consumption to the bare essentials in order to avoid the penalty.

Overall, it will be pretty bad for the economy because it will encourage passive rather than productive investments.